Jefferies Financial Group Upgrades Alpha Teknova (NASDAQ:TKNO) to Strong-Buy

Key Points

• Jefferies Financial Group upgraded Alpha Teknova to “strong buy.” Other analysts have also issued mostly positive ratings, giving the stock a consensus “Moderate Buy” rating and an $8.00 target price.
• Alpha Teknova reported quarterly revenue of $12.19 million and adjusted its loss to $0.06 per share, beating analysts’ expectations for revenue of $10.95 million and a loss of $0.08 per share.
• TKNO shares opened at $7.45, near their 52-week high of $7.84, while institutional investors and hedge funds collectively own 13.81% of the company.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) was upgraded by Jefferies Financial Group to a "strong-buy" rating in a research note issued on Thursday, Zacks reports.

A number of other brokerages have also recently weighed in on TKNO. Roth Capital assumed coverage on shares of Alpha Teknova in a research report on Wednesday, August 5th. They set a "buy" rating and a $7.00 price target on the stock. Weiss Ratings cut shares of Alpha Teknova from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. BTIG Research raised Alpha Teknova from a "neutral" rating to a "buy" rating and set a $8.00 price objective on the stock in a research note on Tuesday, August 11th. Wall Street Zen raised Alpha Teknova from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded Alpha Teknova to a "hold" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alpha Teknova currently has an average rating of "Moderate Buy" and a consensus target price of $8.00.

Alpha Teknova Stock Performance

Shares of NASDAQ:TKNO opened at $7.45 on Thursday. The company has a market capitalization of $399.39 million, a price-to-earnings ratio of -24.03 and a beta of 0.72. The firm's 50 day simple moving average is $6.38 and its 200 day simple moving average is $4.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.49 and a quick ratio of 3.48. Alpha Teknova has a fifty-two week low of $1.91 and a fifty-two week high of $7.84.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. Alpha Teknova had a negative net margin of 38.37% and a negative return on equity of 24.94%. The firm had revenue of $12.19 million during the quarter, compared to analysts' expectations of $10.95 million. As a group, sell-side analysts forecast that Alpha Teknova will post -0.28 earnings per share for the current year.

Institutional Trading of Alpha Teknova

Several hedge funds and other institutional investors have recently modified their holdings of TKNO. ProShare Advisors LLC acquired a new stake in shares of Alpha Teknova in the fourth quarter valued at approximately $38,000. R Squared Ltd acquired a new position in Alpha Teknova during the first quarter worth $42,000. Deutsche Bank AG bought a new position in Alpha Teknova in the second quarter valued at $62,000. Ieq Capital LLC bought a new position in Alpha Teknova in the second quarter valued at $62,000. Finally, Susquehanna International Group LLP bought a new position in Alpha Teknova in the second quarter valued at $115,000. Institutional investors and hedge funds own 13.81% of the company's stock.

About Alpha Teknova

Alpha Teknova, Inc NASDAQ: TKNO develops and manufactures critical reagents and solutions used in life sciences research, biopharmaceutical development, and laboratory testing. The company supplies ready-to-use and custom-formulated biological buffers, media, process liquids, and other high-purity reagents designed to support research and production workflows.

Its products and services are used across applications including cell and gene therapy, molecular diagnostics, next-generation sequencing, vaccine development, and other genomics and bioprocessing activities.

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